Trump's Auto Tariff Revokes Trade War – Markets Plunge, Japan & Europe Furious, Economic Chaos
In a stunning trade war escalation, President Trump has imposed a massive 25% tariff on all imported cars, sending shockwaves through global markets. Tokyo stocks plummeted, and major automotive-exporting nations like Japan, South Korea, and Europe are outraged. How will Trump's Auto Tariff impact the global economy? Will this lead to full-blown economic chaos?
Trump's Auto Tariffs creates an Economic Chaos.
#Trump #TradeWar #AutoTariff #GlobalEconomy #BreakingNews #StockMarketCrash #Japan #Europe #USPolitics #Economy #Tariffs
~PR.274~ED.346~GR.122~HT.96~
In a stunning trade war escalation, President Trump has imposed a massive 25% tariff on all imported cars, sending shockwaves through global markets. Tokyo stocks plummeted, and major automotive-exporting nations like Japan, South Korea, and Europe are outraged. How will Trump's Auto Tariff impact the global economy? Will this lead to full-blown economic chaos?
Trump's Auto Tariffs creates an Economic Chaos.
#Trump #TradeWar #AutoTariff #GlobalEconomy #BreakingNews #StockMarketCrash #Japan #Europe #USPolitics #Economy #Tariffs
~PR.274~ED.346~GR.122~HT.96~
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NewsTranscript
00:00Signing a executive order today that's going to lead to tremendous growth in the automobile
00:07industry.
00:08As you know, the electric mandate that we did allows you to buy a car now, electric
00:14or gasoline powered or hybrid, you can buy any car you want.
00:19We had it so that within a short period of time you had to buy all electric and the country
00:23could never get, they could never provide the money.
00:28Thank you very much.
00:29It's an honor to be with you today.
00:31We just celebrated Women's Day at the White House.
00:34It was fantastic, attended by a lot of great women, a lot of great women.
00:38All women are great.
00:40So this is the beginning of Liberation Day in America.
00:48We're going to take back just some of the money that has been taken from us by people
00:55sitting behind this desk or another desk that's not quite as nice, but they have their
00:59choice of seven, as you know.
01:02And we're going to charge countries for doing business in our country and taking our jobs,
01:12taking our wealth, taking a lot of things that they've been taking over the years.
01:16They've taken so much out of our country.
01:19Friend and foe.
01:20And frankly, friend has been oftentimes much worse than foe.
01:24And this is very modest.
01:26What we're going to be doing is a 25 percent tariff on all cars that are not made in the
01:31United States.
01:32If they're made in the United States, there's absolutely no tariff.
01:35We started off with a two and a half percent base, which is what we were at.
01:39And we go to 25 percent.
01:43And basically, as you know, and as you've been saying, not reporting as accurately as
01:47it should be reported, because it's a massive story.
01:51Business is coming back to the United States so that they don't have to pay tariffs.
01:54And I think also because of November 5th, the election, they're very happy.
01:59AI is coming back to levels that nobody's ever seen before.
02:03It's a new sort of a new business, I guess, when you think about it.
02:07But it's plants are going up all over the United States, and many of them have already
02:11been started.
02:12We're getting early electricity taken care of.
02:16We're getting permits very quickly for them.
02:19And we're going to make their life very happy.
02:21They're coming in with tens of billions of dollars.
02:25Individual plants will cost 10, 15, 20 billion dollars.
02:28We're going to let them build electricity generating plants along with their plant.
02:34And they can't even believe it.
02:36And we're going to get a very quick permits, as I've done always.
02:39I did that in Louisiana with two LNG plants.
02:42I got them one permit in one day after waiting 14 years and the other one in one week after
02:47waiting for 12 years.
02:49But this is very exciting to me.
02:51This is the automobile industry.
02:52And this will continue to spur growth like you haven't seen.
02:58Before I was elected, we were losing all of our plants that were being built in Mexico
03:01and Canada and other places.
03:03Now those plants largely have stopped and they're moving them to our country.
03:07And Indiana, the great state of Indiana.
03:10I love Indiana.
03:11Honda is building one of the biggest plants anywhere and they've just started.
03:19They wouldn't have done it without this.
03:21In all cases, they wouldn't have done it without what we're doing.
03:26So we'll effectively be charging a 25 percent tariff.
03:29But if you build your car in the United States, there is no tariff.
03:32And what that means is a lot of foreign car companies, a lot of companies are going to
03:36be in great shape because they've already built their plant.
03:38But their plants are underutilized, so they'll be able to expand them inexpensively and quickly.
03:43But others will come into our country and build and they're already looking for sites.
03:49They're looking for mostly sites.
03:51They don't want to take the old buildings that are empty and falling down.
03:54They want to build new.
03:57And there's tremendous action.
03:59There is likewise for other companies and countries like the chip making process.
04:04Your chip bill was a disaster done by Biden.
04:07All he does is give tremendous amounts of billions of dollars to chip companies that
04:13will do nothing with the money.
04:16They're not going to use the money here.
04:17They're going to just keep it.
04:18They have plenty of money.
04:20The one thing they have is they have a lot of money.
04:22In our case, all we're doing is saying you can't come in unless you build here.
04:26And the largest chip company by far is manufactured from Taiwan is building here.
04:32And it'll give us almost 40 percent of the chip market just with that.
04:35They're spending almost 200 billion dollars in the United States to build a plant and
04:40they've almost started.
04:41They'll be doing much of the work in Arizona.
04:45So we have a lot of exciting things.
04:46But to me, this is one of the most exciting now, outside of one specific day, and that's
04:51Liberation Day.
04:52That's the real Liberation Day of America.
04:54And that's going to be in April 2nd.
04:58And I look forward to it.
04:59We'll have a little news conference.
05:01We'll talk about it.
05:02But this is very exciting.
05:03So we're signing a executive order today that's going to lead to tremendous growth
05:11in the automobile industry.
05:13As you know, the electric mandate that we did allows you to buy a car now with electric
05:19or gasoline powered or hybrid.
05:22You can buy any car you want.
05:24We had it so that within a short period of time, you had to buy all electric.
05:27And the country could never get — they could never provide the money necessary to
05:34build all of those power plants that you would need all over the country.
05:37As you know, in the Middle West, they built eight power stations.
05:43That's like — the size of this desk or smaller.
05:46And they ended up spending $9 billion on eight.
05:49And of the eight, four of them didn't work.
05:53And we're not doing that.
05:54So you can buy electric, or you can buy gasoline, or you can buy hybrid, or you can buy whatever
06:01you want to buy.
06:02And that's the way it should be.
06:03The market is going to determine that.
06:06And you're going to see prices going down, but it's going to go down specifically because
06:10they're going to buy what we're doing — incentivizing companies to — and even countries, but companies
06:17— to come into America and build.
06:20And we're already setting records for new plants.
06:22I think the new plant number, the tally, is — just within a period of a few weeks, it's
06:27very large.
06:28I want to be accurate.
06:30It's very large.
06:31And I'd like to ask Will just to come and give some of the basics, and then I'll sign it.
06:36And it's off to the races.
06:39I think our automobile business will flourish like it's never flourished before.
06:42Yes, please, Will.
06:43Thank you, sir.
06:44As you stated, we've prepared for your attention a proclamation imposing a 25 percent tariff
06:50on foreign-made cars and light trucks.
06:53This is in addition to tariffs that are already in place on those goods.
06:58In addition to, as you said, spurring increased domestic manufacture of cars and trucks, we
07:04expect that these tariffs will result in over $100 billion of new annual revenue to the
07:11United States of America in tariff revenue.
07:15I think, ultimately, we could probably — anywhere from $600 billion to $1 trillion will be taken
07:23in over the relatively short-term period, meaning a year from now, but starting right
07:31away.
07:32Starting right away.
07:33I think we'll go from $600 to $1 trillion within two years.
07:37And I think we'll be very — I mean, right from the beginning, we're going to be at a
07:40very high number, right from the beginning.
07:43And right from the beginning, you're going to have a lot of construction jobs, but you're
07:47also going to have a lot of automobile jobs.
07:49So this is very exciting.
07:50But it's also exciting because of what's happening with other aspects.
07:55We're going to be doing tariffs on pharmaceuticals in order to bring our pharmaceutical industry
08:00back.
08:01We don't make anything here for — in terms of drugs, medical drugs, different types of
08:07drugs that you need, medicines.
08:10It's in other countries.
08:11Largely made in China.
08:13A lot of it made in Ireland.
08:14Ireland was very smart.
08:15We love Ireland.
08:16But we're going to have that.
08:17We're going to have lumber.
08:18We're going to free up some of our land.
08:19And you'll be able to meet a lot of other standards, like fire cuts.
08:20If Los Angeles had fire cuts, which they didn't have, that's a gap of half a football field
08:21between areas.
08:22You wouldn't have had the fires.
08:23They would have been contained.
08:24But you have fire cuts.
08:25And, by the way, you sell that wood for a lot of money.
08:26A lot of — a lot of profit.
08:27It's made from that.
08:28And you'll be able to meet a lot of other standards, like fire cuts.
08:29If Los Angeles had fire cuts, which they didn't have, that's a gap of half a football field.
08:30That's a gap of half a football field between areas.
08:34You wouldn't have had the fires.
08:35They would have been contained.
08:36But you have fire cuts.
08:37And, by the way, you sell that wood for a lot of money, a lot of — a lot of profit.
08:41It's made from that.
08:42But we're going to be doing lumber.
08:43We're freeing up our land so that people can — so that we don't have to use outside
08:48sources of lumber.
08:50Energy we're doing fantastically well at.
08:52You know, the energy prices have been coming down rapidly as we increase supply, and we've
08:58already done that.
08:59of Chris and Doug are doing a fantastic job on that.
09:02That's Department of Energy and Department of Interior.
09:07And they're working together hand-in-hand
09:08because Interior has the land and Energy
09:10has the ability to do the drilling
09:14and do what they have to do.
09:16Our coal areas are going to be opened up
09:19for clean, beautiful coal.
09:21Germany is opening up many coal plants now.
09:23You know, they tried the wind and it didn't work.
09:25They almost went out of business.
09:26They almost went bankrupt.
09:28They tried wind, which is a disaster
09:30because it's too expensive and it doesn't look good.
09:32It kills all the birds. A lot of problems.
09:35But Germany is now building a lot of coal plants.
09:37China is building one a week. Think of that.
09:41And they're using coal, which is very powerful.
09:43Coal is a very powerful energy.
09:46And we're opening up our coal mines again.
09:49And we're going to do — I call it beautiful, clean coal.
09:51The technology is so good now
09:54that coal can give you tremendous power
09:56at the same time it can be very clean.
09:59But we're also obviously doing oil and gas
10:01and various other things.
10:03You can do pretty much whatever you want.
10:04We don't like the wind because we think it ruins the landscapes,
10:08the plains, ruins them. And it's got a lot of problems.
10:12It's also the most — by far, the most expensive energy.
10:17It looks horrible in the oceans.
10:18It's dangerous in the oceans in terms of navigation.
10:22And if you look at what's happening with whales,
10:24you know, in one area, they lost two whales,
10:28like, in 20 years, washed ashore.
10:32And this year, they had 17 wash ashore.
10:35So there's something happened out there.
10:37There's something driving the whales a little bit loco.
10:39But they lost two in 20 years,
10:42and now they lost 17 in a short period of time.
10:44So it's something wrong out there.
10:47So this is very exciting.
10:48This is going to lead to the construction
10:50of a lot of — a lot of plants,
10:53a lot, in this case, auto plants.
10:55And you're going to have — you're going to see numbers
10:57like you haven't seen, both in terms of employment.
10:59It takes a little while.
11:01You're going to have great construction numbers initially,
11:03and then you're going to have — ultimately,
11:05you're going to have a lot of people making a lot of cars.
11:08And one other thing, we are trying —
11:10we have the Speaker of the House with us,
11:11who's doing a fantastic job.
11:14And where's Mike? And we're trying to get approved.
11:17Mike, thank you very much for being here.
11:19We're trying to get approved, if we can.
11:22And if you borrow money to buy a car,
11:25you're allowed to deduct interest payments
11:27for purposes of income tax,
11:30but only if the car is made in America.
11:32So if the car is made in America,
11:33you get a loan, you can deduct the interest.
11:36That's a big saving.
11:37A lot of people in that part of the world,
11:41in terms of buying cars,
11:42a lot of them don't think in terms of deductions.
11:45People that think in terms of deductions
11:47are very wealthy people.
11:49But people are going to start understanding
11:51what a good deduction is all about.
11:53So when you get a loan to buy a car —
11:58and I think it's going to pay for itself.
11:59I don't think there's any cost. I think that's going to —
12:01you're going to have so many cars built.
12:04But you're only going to get that deduction of interest
12:07if the car is made in the United States of America.
12:11So I'm going to sign this. And, Mike, I hope you can get that
12:14because I think it's going to be amazing
12:16in terms of the number of cars
12:18that will be made because of it.
12:20And I want to thank Howard Lutnick,
12:22our fabulous Commerce Chairman. That's what he is.
12:27He's a chairman. He's a very successful guy.
12:29A great guy.
12:30And we have a big day, Howard, coming up next week.
12:34That's going to be — that's Liberation Day.
12:35That's going to be on the 2nd.
12:37And that's going to be reciprocal.
12:39And I think people will be impressed.
12:41We're going to be — we're going to be very fair.
12:43We're going to be very nice, actually.
12:45We have not been treated nicely by other countries,
12:48but we're going to be nice.
12:49So I think people will be pleasantly surprised.
12:52But it's going to make our country very rich
12:55because we're the piggy bank that everybody steals from,
12:59and they've been doing it for many years, for decades.
13:02So we're not going to let it happen.
13:04So — but we're going to treat people very nicely.
13:06We're going to treat other countries very, very nicely.
13:08And I think it's going to have a very positive effect
13:11on everybody, including those other countries.
13:14So I'll sign this, and we will see you again on April 2nd.
13:20In terms of this, it's going to be another round.
13:23And it's about making America great again,
13:24making it strong and prosperous again.
13:26Thank you very much.
13:28So, Mr. President, on tariffs —
13:30can I ask you about tariffs, Mr. President?
13:31On the car tariffs, how do you assure
13:34that a car coming into the country is fully built?
13:37Could an automaker in Germany say,
13:39leave the tires off a car?
13:41We're going to have very strong policing,
13:44and it's pretty easy to do.
13:46If parts are made in America and a car isn't,
13:50those parts are not going to be taxed or tariffed.
13:52And we'll have very strong policing,
13:54as far as that's concerned.
13:55For the most part, I think it's going to lead cars
13:57to be made in one location.
13:59You know, right now, a car would be made here,
14:01sent to Canada, sent to Mexico,
14:03sent all over the place. It's ridiculous.
14:05So this is a very simple system.
14:09And the beauty of the 25, it's one number.
14:12It's not up or down, depending on the cost of the car.
14:14It's one number.
14:16And that number is going to be used to reduce debt
14:18greatly in the United States,
14:19and to build things, reduce taxes.
14:22I mean, basically, I view it as reducing taxes
14:26and also reducing debt.
14:28And within a fairly short period of time,
14:30I think we're going to have a balance sheet
14:32that's going to be outstanding.
14:33Yeah.
14:35The Press How do you assure Americans, then,
14:37that this will not cause a long-term increase in prices?
14:41President Trump Well, look, I think we're going to have
14:42a market the likes of which nobody has ever seen before,
14:45not in this country. You know, we had the best market ever.
14:49In my first term, it was the strongest market ever,
14:51the best economy ever.
14:53And I think you're going to — I think this blows it away.
14:56But this is something that people have wanted to do.
14:59Presidents have wanted to do for a long time.
15:01A lot of them didn't understand it.
15:02It wasn't a priority for them.
15:05But foreign countries understood it very well.
15:08And they've really ripped us off at levels
15:11that nobody has seen before. But that's not going to happen.
15:14The Press Mr. President, is this for today
15:15or on April 2nd, the auto tariffs, sir?
15:17President Trump Say it.
15:18The Press Do these auto tariffs go into effect today
15:19or on April 2nd?
15:21President Trump They go into effect on April 2nd.
15:23We're signing today.
15:25It's — it goes into effect April 2nd.
15:29We start collecting on April 3rd.
15:31The Press Mr. President,
15:32do you have any more sectoral tariffs
15:33that are coming in on April 2nd?
15:35President Trump What does that mean?
15:36The Press Any more tariffs on any other sectors
15:38on April 2nd, for example,
15:39chips or pharmacies moving into tariffs?
15:41President Trump Not then, but we will be putting
15:42a tariff on lumber.
15:44We, as you know, have a tariff already on steel
15:47and on aluminum of 25 percent.
15:50And we're taking in tremendous amounts of dollars.
15:52More importantly, our steel factories
15:56and aluminum factories are roaring.
15:58They're starting to roar. They're building new ones.
16:00I just heard from Nucor, which is a big —
16:03a big company, a very big steel company.
16:05And they're building a massive —
16:07a massive plant for steel
16:09that they wouldn't build without this.
16:11We're going to — you're going to see —
16:13you're going to see things that are going to be actually amazing.
16:15And I think you already have.
16:18You know, we've had some news conferences
16:19where I can't — I can't have enough.
16:21They want to do news conferences where they announce
16:24they're going to spend $20, $30, $40 billion.
16:27But Apple, as an example, is spending $500 billion.
16:31Okay?
16:32The Press Also, on the Signal chat,
16:35Senator Roger Wicker —
16:37President Trump Hold on one second.
16:38Go ahead.
16:40The Press Will those be immediately back
16:42to April 2nd on all countries,
16:43or will you focus on the worst offenders?
16:46The President No, we're going to make it all countries.
16:48And we're going to make it very lenient.
16:51I think people are going to be very surprised.
16:53It'll be, in many cases, less than the tariff
16:56that they've been charging us for decades.
16:58So I think people are going to be very, very surprised.
17:01The Press Why is that?
17:02The President I think — I think they'll be pleasantly surprised.
17:04I don't know. I think we're trying to keep it
17:06somewhat conservative.
17:07The Press And on these auto tariffs,
17:08we saw, obviously, the NASDAQ —
17:10100 go down, 2 percent, it closed.
17:12Hasn't peaked. 500 down, 1 percent.
17:14What are you — are you concerned about that?
17:15The President Is that today? Today?
17:17The Press Yes, sir.
17:18The President I didn't say that. I want to see the jobs.
17:20I want to see — that'll all take care of itself.
17:21That could take care of itself in one day,
17:23two days, or one week.
17:25The Press Are there any conditions under which
17:26you'd remove these auto tariffs, sir?
17:28Or is this permanent for the rest of your term in office?
17:31The President Oh, this is permanent.
17:32Yeah. A hundred percent. Yeah.
17:34The Press Are you calling them auto tariffs?
17:35Did Elon Musk advise you at all on these auto tariffs?
17:38The President No, because he may have a conflict,
17:40so we don't talk. I've never talked to him.
17:41Elon's amazing.
17:43He's never asked me for a favor in business whatsoever.
17:48I'm actually a little surprised by it.
17:50I might do it, I might not do it.
17:51I do what's right, and he'd want me to do what's right.
17:53No, he's a patriot.
17:55He has never — you know, these are big deals
17:57we're talking about. This is probably nothing like this.
18:00And I've never had Elon come and say,
18:03would you do me a favor with a mandate
18:05or the electric mandate or anything.
18:07He's never asked me for anything.
18:08The Press Sir, also, what's your response
18:10to Republican lawmakers who have said today
18:12that your administration should take more accountability
18:14and not downplay what's happened with the signal
18:17that we've seen in these messages today?
18:19What is your response? The President Well, I don't know about downplaying.
18:20The press upplays it. I think it's all a witch hunt.
18:22That's all. I think it's a witch hunt.
18:25I wasn't involved with it. I don't — I wasn't there.
18:28But I can tell you the result is unbelievable
18:31because the Houthis are looking to do something.
18:34They want to know, how do we stop? How do we stop?
18:37How do — can we have peace?
18:38The Houthis want peace
18:40because they're getting the hell knocked out of them.
18:42It's been very, very strong.
18:44The Houthis are dying for peace. They don't want this.
18:48And they're bad. Look, they were knocking ships out of the ocean.
18:51You know, we had — in the Suez Canal,
18:53they only have about 20 percent of the ships going through.
18:55They have to go through a different way,
18:57which takes weeks of travel.
19:01And that really affects commerce.
19:02But the Houthis have been hit hard,
19:05and they want to negotiate peace.
19:06But I don't think they're going to.
19:08The Press.
19:09Do you still believe there was nothing classified
19:10that was shared?
19:11Say it?
19:12Do you still believe nothing classified was shared?
19:14Well, that's what I've heard. I don't know. I'm not sure.
19:16You'll have to ask the various people involved.
19:19I really don't know.
19:21I can only tell you this.
19:22You know, you don't want to talk about it.
19:24The Houthis have been horrible to the world,
19:29what they've done. Killed a lot of people.
19:31And knocked down a lot of ships and planes and anything else.
19:34You know, it's not just the ships.
19:36And they have been hit —
19:37they have been hit harder than they've ever been hit.
19:40And they want us to stop so badly.
19:43And they've got to stop. They've got to say no mas.
19:46But I can only say that the attacks —
19:50you know, it's attacks every day, every night.
19:52It's not just the one. You're talking about one.
19:55The attacks have been very successful,
19:58even beyond our wildest expectations.
20:00We've hit them very hard, very successfully.
20:04And we're going to do it for a long time.
20:05We're going to keep it going for a long time.
20:07The Press.
20:08Senator Republicans have asked for —
20:10Senator Republicans have asked — said that they have formally
20:12asked the administration for an inspector general report
20:15on the signal issue. Will you agree to that?
20:19It doesn't bother me. I don't know.
20:20You know, I want to find out if there's any mistake
20:23or if a signal doesn't work.
20:26It could be the signal is not very good.
20:27You know, it's a company, and maybe it's not very good.
20:30I think we'd rather know about it now.
20:32There was no harm done because the attack
20:34was unbelievably successful that night,
20:37and it has been unbelievably successful
20:39every single night for the last four or five nights.
20:43So —
20:45And that's the thing that you should be talking about.
20:48This is something that should have been done
20:49by sleepy Joe Biden, but he was asleep at the wheel,
20:52other than when it came to stealing money, of course.
20:55Joe Biden should have done this attack on Yemen,
20:58which is basically a certain group within Yemen,
21:01the Houthis, and this should have been done by Joe Biden,
21:06and it wasn't.
21:07And that's caused this world a lot of damage and a lot of —
21:10So, Mr. President, who's responsible?
21:12But is he also overseeing the investigation
21:14to find out what went wrong? Maybe —
21:16Who's responsible?
21:17Mike Walsh says that he's responsible.
21:19Well, yeah, Mike Walsh, I guess he said —
21:21he claimed responsibility, I would imagine.
21:23It had nothing to do with anyone else.
21:24It was Mike, I guess. I don't know.
21:26I always thought it was Mike.
21:29But, again, the attacks were unbelievably successful,
21:33and that's ultimately what you should be talking about,
21:36I think.
21:38Mike did — he took responsibility for it.
21:40Should Secretary Hegseth consider his position over this?
21:43Say it.
21:44Should Secretary Hegseth consider his position
21:46over the signal?
21:47Hegseth is doing a great job.
21:49He had nothing to do with this.
21:51Mr. President, how do you bring Hegseth into it?
21:54He had nothing to do with it.
21:55Look, look, it's all a witch hunt.
21:58Here we are talking about some of the greatest business deals
22:01ever made. The greatest companies in the world
22:03are moving into the United States,
22:04and you want to ask about whether or not signal works.
22:07I don't know that signal works.
22:08I think signal could be defective,
22:10to be honest with you.
22:11And I think that's what we have to —
22:12because you use signal, and we use signal,
22:14and everybody uses signal.
22:16But it could be a defective platform,
22:18and we're going to have to find that out.
22:19Mr. President, have you been briefed about the soldiers
22:22in Lithuania?
22:22Have you been briefed about the soldiers in Lithuania
22:25who are missing?
22:26No, I haven't.
22:27Mr. President, have you spoken, sir,
22:31with the big three automakers about these tariffs?
22:33What was their reaction?
22:35I have.
22:36It depends on whether or not they have factories here.
22:39I can tell you, if they have factories here,
22:41they're thrilled.
22:42If you don't have factories here,
22:44they're going to have to get going and build them
22:45because otherwise they have to pay tariffs.
22:47It's very simple.
22:48And most of those have pretty big factories here.
22:50Like General Motors has big factories here.
22:53They're going to move their parts divisions
22:54back to the United States
22:56because some of them were made in Canada
22:57and some of them were made in Mexico and other places.
23:01They'll be moving their parts division
23:02back to the United States.
23:03In factories where they may be at 60 percent capacity,
23:07so they don't even really have to build too much of a factory.
23:10You know, generally speaking,
23:12if they have factories here, plants here,
23:15where they make their cars and equipment,
23:17but they make their cars here, they are thrilled.
23:21Same thing with the steel industry.
23:22Steel industry is now paying a 25 percent tariff,
23:25as you know, I put it on last week.
23:27And the business is roaring in the United States.
23:30And we can't, because of military,
23:32we can't lose the steel industry.
23:34If I didn't put the initial tariffs on steel
23:36in my first term,
23:37you wouldn't be able to have a military
23:39because we wouldn't have every steel company.
23:42Every steel company would be bankrupt in the United States
23:46and every plant would be closed.
23:49But now they're booming.
23:50And putting this tariff on this additional tariff
23:52for steel and aluminum, it's making them thrive.
23:56And it's already happened.
23:58The Press is asking about the deadline for the TikTok sale.
24:01Will you extend that deadline if you don't have a deal?
24:03Do you support oral?
24:04Well, we will have a form of a deal.
24:06TikTok is very popular, very successful, very good.
24:10We're going to have a form of a deal.
24:12But if it's not finished, it's not a big deal.
24:14We'll just extend it.
24:15I have the right to have the deal
24:17and to extend it if I want.
24:19So we'll see whether or not we have a deal.
24:21We have a lot of interest in TikTok.
24:23Is there a way for a U.S. company to operate it
24:26and buy deals to still have a share of the algorithm?
24:27Well, it'll be — there are numerous ways
24:29you can buy TikTok, and we will find the one
24:32that's best for the country, for our country.
24:34I'm worried about our country
24:36more than anything else with respect to TikTok.
24:39And China is going to have to play a role in that,
24:42possibly, in the form of an approval, maybe.
24:46And I think they'll do that.
24:47Maybe I'll give them a little reduction in tariffs
24:51or something to get it done.
24:53You know, because every point in tariff
24:55is worth more money than TikTok, if you think.
24:59Every point — tariff is a much bigger world,
25:01and TikTok is big.
25:03But every point in tariffs is worth more than TikTok.
25:06So, in order to get China to do —
25:09maybe I'd give them a reduction in tariffs, as an example.
25:13Sounds like — sounds like something I'd do.
25:15So, Mr. President, tariffs are going to be good for Tesla, sir?
25:18Good for who? Tesla?
25:19Which makes it kind of a tariff.
25:21Well, he makes — he is a fantastic Tesla.
25:23Will tariffs be good? I think they may.
25:27It could be a net neutral, or they may be good.
25:29He has a big plant in Texas.
25:31He has a big plant in California.
25:33And anybody that has plants in the United States,
25:36it's going to be good for, in my opinion.
25:38Mr. President, you said you want to return education control
25:41to the states. How would you handle it
25:43if a state like California were to put in place education policies —
25:46You know, I haven't seen a mask in so long.
25:48You're wearing a mask. So nice of you.
25:50I haven't seen anybody wearing a mask in a long time.
25:53It's good. You feel more comfortable, right?
25:55Yes.
25:56Good. That's good. So, go ahead.
25:59You said you want to return education control to the states.
26:02How would you handle it if a state like California
26:05were to put in place education policies you disagree with?
26:08Well, I think that California is going to be tougher
26:11because they are — they're doing badly on everything they do.
26:14You know, everything they touch turns bad.
26:17So, a place like California would be tougher for education.
26:20But what I would see with California
26:22is you'd have a Los Angeles department,
26:25and you'd have Riverside.
26:26You'd have — you know, you'd go to various places.
26:29And I think you'd have some great areas in California,
26:31and you'd have some like everything else.
26:33It doesn't work so well.
26:34But ultimately, I think it would be very successful.
26:36I think in New York, as an example,
26:38you'd go to Long Island, Westchester.
26:40You may have Nassau County, Queens County.
26:42You'd have — you'd break it up in certain ways
26:44so they'd have maybe five departments.
26:47You know, because of the size,
26:48they'd have five departments instead of one.
26:50A state like Iowa, you'd have one.
26:52And, I mean, they're just chopping at the bit to get going.
26:55So many states are chopping at the bit to get education.
26:59And it's going to happen fast
27:00to get the education brought back to the states.
27:03And, I mean, I tell you what, you have 40 states,
27:07in my opinion, that would be as good as Norway,
27:10Sweden, Denmark.
27:13You take a look at — those three are top — among the top.
27:17And they've been there for a long time.
27:18But I think you'll have a lot. A lot.
27:22Finland is very strong. Frankly, China is very strong.
27:26China is in the top 10.
27:28And that's something considering the size, you know.
27:30So it's not only a size thing.
27:32But Norway, Sweden have been very good.
27:36Denmark has been very good.
27:38I think you have Iowa and Indiana,
27:40and a lot of our states will be equal to them.
27:43But they can't be equal if it's going to be run in Washington.
27:46We don't want that. Yeah.
27:47The Press.
27:49State Director Gabbard testified that any information
27:51that would indicate that the U.S. or its allies
27:53are going to make an attack should be classified.
27:57The Secretary of Defense has said that the information
28:00in those messages was not classified.
28:02Are you going to ask him to review
28:04whether it should have been —
28:05should flight times and sequencing be classified?
28:07Sure, I'll ask him to do that. Sure, I would. It would be.
28:12You can view that two ways, frankly.
28:14There's a lot of ways to answer that question.
28:15But I'd certainly ask him to take a look at it.
28:17So, Mr. President, when they did this,
28:19was it in hindsight? Should they have looked, though?
28:21Well, there may be — yeah, there may be a problem
28:23with the platform.
28:24And if there's a problem with the platform,
28:26nobody should use it. You know, they could have a basic problem.
28:29But, you know, I say it again.
28:33The attack was so successful. It was so lethal.
28:36Not that I'm looking for lethality.
28:38I wish we didn't have to do it at all.
28:39But they're shooting down our ships.
28:41They're shooting down our planes.
28:43And we can't allow that to happen.
28:44And again, this is something that should have been done
28:46by Biden a long time ago. Or one or two more.
28:49So, Charles?
28:50What do you think of the Vice President's comments
28:51that he doesn't like bailing out the Europeans?
28:54Do you agree with that?
28:55Well, I understand where he's coming from.
28:57The European Union has been treating us very,
29:00very badly in terms of the VAT tax that they charge.
29:03They charge a tremendous VAT tax.
29:05And they don't sell our cars in Europe.
29:09They don't sell our agriculture in Europe.
29:11They don't let us do very much. They treat us very badly.
29:14One of the reasons I'm putting tariffs on is that reason.
29:18We take millions of their cars —
29:20BMW, Volkswagen, Mercedes-Benz.
29:23We take millions and millions of their cars.
29:25They take none.
29:26I don't know if they take any of our cars.
29:29And they have non-monetary tariffs,
29:31where it's impossible for us to sell a car, almost, in Europe.
29:35And so, I understand what he's saying.
29:37Same thing with NATO. When I got involved,
29:40these mostly European countries — as you know,
29:43we had 28 at the time, and only seven were paid.
29:48And most of them were not paid.
29:50Twenty-some-odd countries were not paid.
29:52Or they were substantially less than they're supposed to be.
29:56And the United States was literally
29:59making up the difference in Europe.
30:01And it's very unfair. So, I understand.
30:02I didn't know he made that statement.
30:04But if he did, I mean, I'm okay with it.
30:06It's — I complain about it all the time.
30:09The European Union treats us horribly on trade.
30:12And NATO has treated — now, I raised a lot of money for NATO.
30:17Hundreds of billions of dollars.
30:19You were here last week when the Secretary General said,
30:21without Trump, there wouldn't be a NATO.
30:24Because I got them to pay money. It was unfair.
30:26The United States was paying 80, 90, 100 percent. Okay?
30:30The Press. Who said it would be more lenient
30:31than a separate bill next week?
30:32I think there'll be — yeah, I think if I was —
30:35if I did to them what they did to us,
30:39I think a lot of people would be very unhappy.
30:40Yeah, I think it'll be much more lenient.
30:43I'm going to be much more lenient
30:45with regard to the tariffs that you'll see on April 2nd.
30:49I'm going to be much more lenient than they were with us.
30:52They were really bad with us, I tell you.
30:55They've treated us badly. And the President should have stepped up.
30:58They should have stepped up and done something,
31:00and they didn't do it.
31:01And hence, we have $36 trillion in debt.
31:03The Press. Mr. President, you've criticized
31:07Jeffrey Goldberg. Have you asked your national security advisor
31:10how he had his phone number in his phone?
31:13We have asked a lot of questions,
31:15and we're going to try finding all those things out.
31:17No, I just know Goldberg. It's a sleazebag.
31:19You know, his magazine is terrible.
31:21He's just a guy that I never had a lot of respect for.
31:25The Press. Mr. President, how far are you prepared
31:29to go on Greenland?
31:31You said this morning that the United States needs Greenland.
31:34How far are you prepared to go? We need Greenland for national security
31:36and international security.
31:38So we'll — I think we'll go as far as we have to go.
31:43We need Greenland.
31:44And the world needs us to have Greenland,
31:47including Denmark. Denmark has to have us have Greenland.
31:50And, you know, we'll see what happens.
31:52But if we don't have Greenland,
31:55we can't have great international security.
31:57If you look at the ships outside of Greenland —
32:01China, Russia, places that — we have to be there.
32:06If we're not there, we can't have national
32:08or international security.
32:10So it's — I view it from a security standpoint.
32:12We have to be there.
32:13The Press. Mr. President, you decided to join his wife
32:15instead of sending her — she was going to go solo
32:16to the dog sled race, and now he's going home on Friday.
32:19Who's going into — The Vice President.
32:21But Usha was going to go to Greenland on her own.
32:23I don't know. I'm not sure.
32:24I think — I think you may have J.D. going, actually.
32:28Yeah. I don't know. I don't know if they've split that up.
32:31But Usha is great. But I understand J.D. might be going.
32:35So, sir, the European Union has voted —
32:37or decided against Apple and Google
32:40during the Digital Markets Act.
32:42And they're the first U.S. companies they targeted with that.
32:44An Apple executive told me they believe
32:46that's politically motivated because of the tariffs.
32:47It is.
32:48The European Union is suing a lot of our companies,
32:52like Apple, and they have a $17 billion judgment.
32:57And they're suing Google. They're suing Facebook.
32:59They're suing a lot of other companies.
33:01And they use that money just like — it's like a tariff.
33:04They go before judges that are very pro-European Union,
33:09to put it mildly. I have that same thing here,
33:10but I don't think the people are going to stand for it.
33:12Are they using it as leverage?
33:14No, they're just taking advantage of American companies,
33:17and we're not going to let them do it anymore.
33:19Okay? Thank you very much, everybody.